Aehr Test Systems Beats Q1 Estimates, Reiterates Guidance: Here Are The Details

Aehr Test Systems AEHR shares are trading lower after the company reported first-quarter financial results.

What To Know: Aehr reported quarterly earnings of 18 cents per share which beat the analyst consensus estimate of 16 cents, a 260% increase over earnings of five cents per share from the same period last year. The company reported quarterly sales of $20.62 million which beat the analyst consensus estimate of $19.23 million, a 93.27% increase over sales of $10.67 million the same period last year.

Total cash, cash equivalents, and short-term investments were $51.0 million as of Aug. 31, up from $47.9 million at May 31.

The company reiterated full-year 2024 previously provided guidance for total revenue to be at least $100 million, versus the $102.93 million estimate.

"We finished the first quarter with solid revenue and non-GAAP net income, the strongest first quarter in our history, which has historically been our seasonally softest quarter. We are off to a very good start to our fiscal year and are reaffirming our expectation to grow fiscal full year revenue by at least 50% and profit by over 90% year over year," said Gayn Erickson, president and CEO of Aehr Test Systems.

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AEHR Price Action: Shares of AEHR were down 11.35% at $39.19 in the after-hours session at the time of publication, according to Benzinga Pro.

Photo: Republica from Pixabay